China and the US resume their negotiations on top level, despite the announced U.S. special duties on imports from China. After the irritation want to meet the dealer with a day late on Thursday and Friday in Washington, as both sides confirmed. The Chinese Delegation, standing unchanged and Vice-Premier Liu Hu, said the Beijing Ministry of Commerce.
With the announcement, the uncertainty about the further course of the trade talks has for the time being. “The additional duties will not solve any problems,” said foreign Ministry spokesman Geng Shuang in front of journalists in Beijing. “It is completely normal for both sides to have differences.” China is not soft contradictions and wished to continue the talks seriously.
discontent about the Chinese negotiations, US President, Donald Trump had announced on Sunday surprisingly, to increase the already existing special tariffs on imports from China in the amount of 200 billion dollars by this Friday – from 10 to 25 percent. Trump also threatened in order to cover soon all the imports from China worth more than 500 billion dollars with 25% duties.
The US government made China for the escalation responsible. The trade representative Robert Lighthizer said on Monday that China have taken in the negotiations already made Commitments back to back. The Washington Post quoted Lighthizer with the words: “from our perspective, This is unacceptable.” The new demands of the Chinese had been sent to the US government at the end of last week and would have made Trump angry, reported the sheet.
Lagarde speaks of the “threat to the world economy”
the Head of The International monetary Fund (IMF), Christine Lagarde, believes that the recent escalation between the United States and China a “threat to the world economy”. “We had the impression that the threat subsided, the relations improved and that we have moved towards us on an agreement,” said Lagarde in Paris. We hope that this is still the case. The rumors, Tweets, and comments would not speak at the Moment.
EU Commission President Jean-Claude Juncker expressed concern. The trade conflict between the United States and China could weaken investment on both sides of the Atlantic, said Juncker in Brussels. In the face of international tensions and uncertainties of the EU-Commission in the current year, of a weaker economic growth in the Eurozone. Due mainly to the slowdown in the global economy and increasing international trade conflicts, especially between the United States and China.
against tariffs China could hit car manufacturers hard
new US special duties could respond to China with retaliation of a similar amount. Such “counter duties” would make German car manufacturers such as BMW and Mercedes, as well as the American electric car manufacturer Tesla hard, eat warned the expert Ferdinand dudenhöffer of the University of Duisburg-Essen. All three export in a large scale of production facilities in the United States to China. BMW should have shipped in 2018, “considerably more than 100,000 vehicles” to China.
the Case of a tariff war, BMW had to reckon with a loss of “significantly more than 500 million euros” in the operating result. For Mercedes, the trade war is “a profit risk from 200 to 300 million euros”, calculated in the industry skilled in the art. The Export of Daimler from the US to China could be around 40,000 cars. Particularly in the US-electric manufacturer Tesla is likely to be taken, wants to start in the coming year, with the construction in China.